United Wholesale Mortgage (UWM) has announced that it has successfully implemented Fannie Mae’s HARP 2.0 program requirements with Unlimited LTV/CLTV. UWM was one of the first lenders to implement the government’s adjustments to HARP 2.0 when it went into effect Dec. 1, 2011, and now they have effectively implemented the expansion of HARP 2.0 into their Easiest Application System Ever (EASE) broker portal.
“With the heavy volume of HARP 2.0 submissions that we are receiving, UWM has not faltered in providing superior customer service, communication and consistency,” said Mat Ishbia, president at UWM. “Our swift implementation of HARP 2.0 is proof that UWM’s exceptional staff can meet and exceed broker expectations in all areas of operations and with every product offering. At UWM, we want to make it as easy as possible to do business with us; investing in resources to quickly implement HARP 2.0 for our brokers was atop the priority list. This high level of service and speed to market holds true to our companywide mantra of ‘Lending Made Easy.’”
Some details of UWM’s HARP 2.0 offering include:
►Unlimited LTV/Unlimited CLTV
►Property inspection waivers (PIW’s) are acceptable
►No DTI restrictions
With approve/eligible findings:
►High balance loans are eligible
►Condos are acceptable
►LLPA caps are in effect
On March 13 and 16, UWM held free Webinars covering the benefits and details of HARP
2.0 now that it is integrated with DU. More than 2,000 mortgage professionals participated in these webinars to learn how they can take advantage of HARP 2.0 at UWM.
In addition to HARP 2.0, UWM recently rolled out The Big & Easy, a true jumbo loan up to $2.5 million, as well as the ability to help their brokers become bankers by issuing a correspondent line. To round out their spectrum of product offerings, USDA will be available in April 2012.